Quantum (NASDAQ:QMCO) Shares Up 1.7% – Here’s What Happened
by Teresa Graham · The Cerbat GemQuantum Corporation (NASDAQ:QMCO – Get Free Report)’s stock price shot up 1.7% during mid-day trading on Monday . The stock traded as high as $10.26 and last traded at $9.78. 931,626 shares traded hands during mid-day trading, an increase of 63% from the average session volume of 571,522 shares. The stock had previously closed at $9.62.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on QMCO. Wall Street Zen raised Quantum from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Lake Street Capital initiated coverage on Quantum in a research note on Wednesday, March 25th. They set a “buy” rating and a $8.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.
View Our Latest Report on QMCO
Quantum Trading Down 1.5%
The stock has a market capitalization of $128.98 million, a P/E ratio of -3.73 and a beta of 2.90. The stock has a 50 day moving average of $6.36 and a 200-day moving average of $6.99.
Quantum (NASDAQ:QMCO – Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. The business had revenue of $74.59 million for the quarter, compared to the consensus estimate of $66.36 million. Quantum has set its Q4 2026 guidance at -0.430–0.230 EPS. Research analysts anticipate that Quantum Corporation will post -2.58 EPS for the current year.
Institutional Investors Weigh In On Quantum
A number of institutional investors and hedge funds have recently bought and sold shares of QMCO. NBC Securities Inc. bought a new stake in Quantum during the 4th quarter valued at $26,000. Bank of America Corp DE raised its position in Quantum by 337.5% during the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock valued at $29,000 after purchasing an additional 2,234 shares in the last quarter. BNP Paribas Financial Markets raised its position in Quantum by 322.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after purchasing an additional 2,641 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Quantum during the 2nd quarter valued at $46,000. Finally, R Squared Ltd bought a new stake in Quantum during the 1st quarter valued at $58,000. 63.66% of the stock is owned by institutional investors.
About Quantum
Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.
Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.